All Posts by Ronald Sier

157 Here are 4 Failures Financial Planners Tend to Forget (Which is Suicide for Being Referable)

If you have studied hard to pass your CFP® exam and worked for years as a financial planner, and you might even have launched your financial planning service, but without the success you dreamed of, I’m sure you’ve been frustrated. I sure have, and I still am once in a while.

The worst part is that there doesn’t seem to be a straightforward explanation as to why you failed.

Continue reading

1 How much is the salary of a financial planner?

The median annual salary for financial advisors was $89,160 in 2015, with the lowest-paid earning less than $39,300 and the highest-paid earning more than 187,200. On top of their salaries, many advisors also earn substantial bonuses.

Financial planner salary

Financial Planners are responsible for developing financial strategies for individuals or organisations, and assisting clients with complex decisions around the best way to protect and grow their wealth.

The key responsibilities for a Financial Planner can also include active involvement in business development and new opportunity identification, while strictly adhering to risk and compliance processes and protocols. The average salary of a Financial Planner is $87,724 per annum.

As a Financial Planner, it’s important to maintain your education and training so that you’re always giving the most up-to-date advice.
Projection: 22% more Financial Planners employed in 2020 (compared to 2015).

Key skills required:
· Good communication skills
· Able to work under pressure
· Aptitude for research
· Good with numbers
· Analytical and planning skills
· Interested in the financial market

Are You a Financial Planner? Do You Want to Know Why People Don't Buy Financial Planning?

If you want to boost your financial planning skills, you don't want to miss this free email course.

Just fill in your best email here below, and you'll receive the first lesson right into your inbox.


How do online financial planners work?

Even though consumers have been using online banking and mobile applications for years, the concept of online financial planners is still new. In comparison to a traditional face-to-face financial planning relationship, how do online financial planners work?

Online financial planners allow you to:

Develop plans for your finances that are comprehensive enough to include college funds, estate planning, insurance investments, long-term investment management, spending trends, and retirement.

Analyze your debt, understand how debt management works, and develop a plan to pay down debt.

Access finances at any time. You don’t need to make appointments with a financial planner, or schedule an office visit plus travel time.

Analyze your financial situation and run scenarios to cover “what if” questions about your financial future. You can change your financial plan at no extra cost.

Keep your information private. Unlike a traditional financial planner, no one else needs to see your personal information, and you can rest assured your information is stored securely.
Run quick reports, and understand them easily.

What to Look for in Your Online Financial Planner:

Your online financial planner should offer the benefits of a traditional financial planner, plus more:

Portfolio and Asset Tracking: Get up-to-the-minute data on your investments and total assets, and get advice on your investment portfolio.

Risk Analysis: Quickly understand the risk level of any proposed investment, and get advice on risk management.

Mobile Features: View your account from any device, including smartphones and tablets. Make updates and changes from anywhere, anytime.

Financial Calculators: Make “what if” projections, calculate potential return, and plan for the future.

Goal Tracking: Set up financial goals, and easily see how you’re tracking against them. Services like Mint even offer email and mobile alerts, bill reminders, and more, to help you stay on top of your goals.

Are You a Financial Planner? Do You Want to Know Why People Don't Buy Financial Planning?

If you want to boost your financial planning skills, you don't want to miss this free email course.

Just fill in your best email here below, and you'll receive the first lesson right into your inbox.


How to become a financial planner?

Curious about the steps to become a financial planner? Underneath you’ll find all the steps which are important to become a great (certified) financial planner.

Earn a bachelor’s degree. Virtually every single financial planner certification program will require you to earn a bachelor’s degree in any discipline before you can become certified in a financial planning program. Though there are no restrictions on what students should major in, a field of study related to business or finance might be a good subject to major in if you plan on pursuing a career as a CFP®. More and more undergraduate programs offer a major in financial planning, others offer a masters or PhD.

Research the requirements of the job you want to pursue. Before you decide which college to attend to earn your degree or certification, it may be worthwhile to look into the education and experience requirements of several jobs in which you are interested. This may help steer you toward an education program that can best help you achieve your professional goals. Some employers will even pay for your education.

Research CFP® programs. It’s important to do some research before applying to a program in financial planning. While every program will cover the same basic material, each program differs in terms of teaching methods and duration of the course. Programs can range from simple certification and online courses to college or graduate degrees, and the specifics of each program are prescribed by that program’s local accreditation guidelines. Distance learning programs and certificate programs typically cost less than college and graduate programs that require university enrollment. You can search for programs by location and by education level on the CFP® Board website. When determining which program is right for you, it may be worthwhile to consider:
• Your current level of education and what your educational goals are.
• Cost of attendance and certification in each program.
• The levels of experience and education of faculty members at each program you’re interested in.
• Whether a program offers internships or job placement assistance after graduation.

Meet the education requirements. Whether you are pursuing a degree in financial planning or earning a certification, you will need to meet your program’s specific requirements regarding education and experience. This may vary from program to program, but will generally require you to earn a bachelor’s degree, take at least some coursework in accounting or finance, and take a college-level capstone course that addresses insurance, investment, income tax, retirement planning, and estate planning.

Regardless of what subject you major in, you will be expected to complete at least 18 semester credit hours of relevant course work. The exact courses may vary, with course titles like Financial Analysis or Estate Planning, but they should be courses approved by the CFP® Board for all students working toward a degree or certification in financial planning.
The advantage of earning a degree in financial planning through a Board-certified college is that your education will cover every applicable aspect of financial planning, and will give you a broad base of knowledge and expertise in the field upon graduation.

For more information on education requirements, please see the CFP® Board’s website.

Consider meeting the requirements through advanced education and training. There are several ways to get around the educational requirements of attending a CFP® program, but all of them require extensive education and training. Please note that each of these alternate paths still require candidates to complete a capstone course, pass the CFP® Board exam, conduct a background check, and pay certification fees.

Earning a doctorate in either business, economics, or business management would satisfy the educational requirements of the CFP® Board.
Becoming a licensed attorney would also satisfy the educational requirements of the CFP® Board.

Completing the educational requirements and credentials of a certified public accountant (CPA), a chartered financial analyst, a chartered financial consultant, or a chartered life underwriter would also satisfy the educational requirements of the CFP® Board.

Earn working experience. In order to become Board certified in financial planning, graduates must complete two years of hands-on working experience with financial planning duties. This work must be at full-time employment status and must involve either working directly as a financial planner, as an assistant to a financial planner, attorney or CPA, or as an educator who teaches financial planning in an academic position. Candidates can find a comprehensive listing of open positions at the CFP® Board’s website.

Three years, or 6,000 hours, of full-time qualifying work are required to meet the Board’s experience requirement.

Work experience must fall under at least one of the six experience categories outlined by the board: establishing relationships with clients, compiling client data, reviewing and evaluating client financial information, developing and presenting financial planning recommendations for clients, implementing financial planning recommendations for clients, or monitoring the success of clients’ financial actions.

Work experience must also meet at least one of the five types of experience: personal delivery to clients, supervision of personal delivery to clients, direct or indirect support of personal delivery to clients, teaching CFP® Board courses or finance-related university courses, or internships/residency programs.
The experience requirements may be met by an alternate course of action in which the candidate completes two years or 4,000 hours of full-time apprentice work. The apprenticeship must be under the direct supervision of a CFP® professional and must include experience in all six experience categories outlined by the board.


Are You a Financial Planner? Do You Want to Know Why People Don't Buy Financial Planning?

If you want to boost your financial planning skills, you don't want to miss this free email course.

Just fill in your best email here below, and you'll receive the first lesson right into your inbox.


17 This Is Why Free Prospect Meetings Mostly Don’t Work (and What Will Instead)

This Is Why Free Prospect Meetings Mostly Don’t Work (and What Will Instead)

I get it.

You don’t want to be one of the thousands of financial planners stuck in the land of sameness — indistinguishable as you parrot the same old advice everybody else does.

You want your service to get noticed, and you want it to feel vibrant, fresh and new.

But your financial planning service might feel threadbare, and you’ve got no bloody idea how to make it exciting again.

So you search for answers on how to stand out.

But all you find is this airy-fairy platitude: Offer a free first prospect-meeting!

Which feels like surface-level hoopla that lacks the substance and specifics you really need.

The harsh truth?

Continue reading

What is the job description of a financial planner?

This page is about the common dutions, career options and the job description of a (certified) financial planner.

Certified financial planner job description
(Certified) financial planners work with client’s to meet short- and long-term financial goals. They understand complex legal and financial documents and are knowledgeable of financial laws and legal restrictions. Furthermore do certified financial planners have a good command of investments and security planning, estate planning, tax planning, employee benefits planning and insurance planning.

Learning about a client’s financial situation is the first step and crucial for developing realistic plans. so it’s necessary for financial planners to interview clients thoroughly, by reviewing fiscal situations and developing tools to assist in meeting financial goals. Financial tools include developing a family budget, tax-sheltered investment plan, retirement savings and a major purchase timeline.

Common duties
Common job duties include interviewing clients, analyzing financial information, recommending financial plans and monitoring outcomes. These duties require strong analytical skills and a desire to work with people, as well as excellent communication and interpersonal skills to work in this people-oriented business.
A persuasive and articulate communication style is helpful. The ability to use databases and conduct financial research, in addition to excellent math skills, are necessary for success in the industry.

Financial planner career options
Many certified financial planners are self-employed and operate their own financial business. Others are employed by savings and loan institutions, investment companies, banks, insurance companies and financial institutions. Advancement within some companies is dependent on the certified financial planner’s ability to generate business. Additional career options include financial consulting, teaching and conducting workshops.


Are You a Financial Planner? Do You Want to Know Why People Don't Buy Financial Planning?

If you want to boost your financial planning skills, you don't want to miss this free email course.

Just fill in your best email here below, and you'll receive the first lesson right into your inbox.


8 Could it Be That Meaning is The New Money For Financial Planners?

Here’s a short story that seems to have nothing to do with financial planning (but it does).

Imagine Bob Lutz.

Bob Lutz?

He’s the former CEO of General Motors.

Bob is not the artsy-fartsy kind of guy. He looks and acts like a marine, which he once was. He smokes cigars. He flies his plane. He once said that global warming was a myth, peddled by the environmental movement.

But when the New York Times asked him about how his approach would differ from his predecessors at the time he started as a CEO at GM, here’s how he responded:

Continue reading

7 Here’s How Your Financial Planning Clients Want to FEEL

You’ve heard it countless times.

Your clients want to feel:

  • Safe.
  • Secure.
  • In control.

And all the other emotions that tie into that great overarching benefit to help people reach their financial goals.

And live happily ever after.

But here’s the big question:

Do they even WANT to feel secure about their financial goals?

Continue reading